Do you ever think about the SHTF scenario...
doh
Posts: 6,457 ✭✭✭
...in relation to your numismatic investment? Over on the PM thread a well known PM bully posted how happy he is to be out of numismatic rarities because he's worried the government will collapse and PMs will be far more valuable than numismatic items. A few people responded in agreement and what he says seems to make sense and got me thinking... But then I think of all the people over on this forum who seem to be collecting and enjoying numismatic rarities without any thought to America being brought back to the bartering system.
I guess my question is: is anyone out there contemplating selling everything because they're worried about the SHTF?
I guess my question is: is anyone out there contemplating selling everything because they're worried about the SHTF?
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have far worse problems then the value of our coin collections.
Camelot
If people go back to subsistence living, gold and silver will not be high on my list of things to acquire. Preserving history and western culture however would be among my priorities.
I do think about the time to sell: Certainly the buy/sell spread is much better with precious metals than numismatic coins. Then again, I can see precious metals retreating in prices if we get our house in order. While that may not be likely, it was not likely in 1980 either.
I buy coins I like, with hopefully a potential to break even or make a profit later. If the SHTF, paid for property, tangible assets, etc. will retain value. In dark ages England after the Romans left their coins (real silver) had no value. People needed food - barter became the real currency.
Settle your debts, have a cash reserve, collect with your excess.
<< <i>If that negative scenario comes to pass, then I believe we will
have far worse problems then the value of our coin collections. >>
Exactly what I was thinking. I'm not sure gold and silver would be the things to have anyway. Better would be to spend the money you currently have on a huge supply of fuel, food emergency shelters, and water. That is where the true value lies if the world goes "to the dogs" as they say.
Really, I agree about not selling the coins off, but I really like to be particular to silver and gold coins in my collection. That way there's some precious metal value along with the historical content. Two for one.
I don't have vast fortunes tied up in either one.
Member ANA, SPMC, SCNA, FUN, CONECA
I have learned to be wary of buying into what is popular at the time, and buy what is unpopular at the time. I try to follow what Warren Buffet does. Be wary when everyone is greedy, and greedy when everyone is wary.
This is why I am not buying bullion right now. As far as an investment in "emergency" money. There are better things to stockpile than gold and silver.
I know one guy who is one of these crazy survivalists and he tells me that loads and loads of pocket change like quarters and dimes might be more important than PM because pocket change works in vending machines.
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#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
<< <i>Would PMs really be that important in a SHTF scenario? What does yellow metal do if some barter system arose? I would imagine skills, seeds, livestock and water may be more important to own than hunks of metal.
I know one guy who is one of these crazy survivalists and he tells me that loads and loads of pocket change like quarters and dimes might be more important than PM because pocket change works in vending machines. >>
well, bricks work better.
and I'd imagine if it came to a barter systems, a raw piece of PM would be less valuable than a skill or something more readily usable. Unless mayber the person makes printed circuit boards for targeting computers.
<< <i>
<< <i>Would PMs really be that important in a SHTF scenario? What does yellow metal do if some barter system arose? I would imagine skills, seeds, livestock and water may be more important to own than hunks of metal.
I know one guy who is one of these crazy survivalists and he tells me that loads and loads of pocket change like quarters and dimes might be more important than PM because pocket change works in vending machines. >>
well, bricks work better.
and I'd imagine if it came to a barter systems, a raw piece of PM would be less valuable than a skill or something more readily usable. Unless mayber the person makes printed circuit boards for targeting computers. >>
That's what I was thinking. In a SHTF scenario people won't be using pocket change to get chips out of a machine.
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#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
Is it anything like STFU?
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
longer to worry about the state of the Nation and the world.
However, I would still like to get a few more PCGS + before
I go.
Camelot
No Way Out: Stimulus and Money Printing Are the Only Path Left
WHAT IS SHTF!!!!!!!!!!
<< <i>I'm with midlifecrises
WHAT IS SHTF!!!!!!!!!! >>
S... hit the fan
Larry L.
SHTF = <something> hits the fan.
Lance.
However, collector coins endured the great depression and the gold recall so I would not be too worried regarding their value should something catastrophic occur.
What I would be worried about, is exactly how how could convert my silver bullion into something that was "spendable" at either the local market or the gas stations.
BTW, I never lay any creedance to any of these disaster theorists since they simply feed off of their own personal paranoia's anyway.
Always have and always will.
Besides, those folks that are selling, what are you selling for? PM's or US Dollars? If its US Dollars, that seems a little silly since its the US Dollar that would go away in any financial collapse now isn't it?
The name is LEE!
Empty Nest Collection
<< <i>
BTW, I never lay any creedance to any of these disaster theorists since they simply feed off of their own personal paranoia's anyway.
Always have and always will.
>>
agreed. I kind of looked into the possibilities at one time, but the only country in this world even there is Somalia, but even fiat money is acceptable there. Only a nationwide disaster like a nuclear war or maybe the Yellowstone volcano scenario happening would this possibility happen. With a nuclear war the only thing of value is a good shelter, water and a stockpile of canned food and with a natural disaster like the "Yellowstone mega volcano" water and a stockpile of food. In both cases food and water would be the core need.
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#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
<< <i>
<< <i>I'm with midlifecrises
WHAT IS SHTF!!!!!!!!!! >>
S... hit the fan >>
Ah, ok.
Then my answer is no, I never think about the SHTF scenario...numismatically or otherwise.
To do so is a complete waste of time, imho.
Carpe diem.
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If you have enough guns and plenty of ammo you can just take what you will need from the other guy who has the bullion, canned food and water but nothing to protect his family with.
In a true worst case scenario you have to be able to protect yourself from the mass confusion and roiting that will surely follow.
GrandAm
World Collection
British Collection
German States Collection
Lance.